BusinessBusiness RecoveryAmerican Airlines nears chapter 11

American Airlines nears chapter 11

American Airlines is this morning reported to be close to filing for chapter 11 bankruptcy protection as the company's losses mount.

Other storiesUS companies clueless on global standards

Union officials in the US are reported to be expecting American Airlines to file anytime as a result of the estimated $5m (£3.1m) a day losses.

The Times reports this morning that American has begun negotiating a refinancing package on Wall Street should it go into chapter 11.

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